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FXGM.com Demo Account

FXGM Demo Accounts

 

Overall Rating

4.5/5

Rated #409 of 
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

No, FXGM.com does not offer a free demo trading account for beginner traders to train on. The demo account interface is ideal for traders who wants to learn to trade without incurring any trading risks or losses, but unfortunately, FXGM.com does not offer this practice environment.

Finding a reputable list about FXGM.com demo account local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Demo Account review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to using this brokers platform and their trading interface.

 

How to set up a Demo Account – Step by Step

FXGM.com does not offer traders a no-deposit demo account.

The broker does advertise a ‘live demo environment’ for traders with which they can use the First Protected Positions tool for thirty days. This tool is available to all new clients and will return any losses for the first five trades (the ZA branch) or ten trades (global) and users can keep any profits.

To use this tool, however, still requires an initial investment to begin trading and does not offer traders the opportunity to trade with virtual money as with other broker’s demo accounts.

To register for, and set up an account with FXGM.com, traders can follow a few simple steps.

New accounts are processed via an online application, following established industry standards.

You can open live trading accounts on the website of FXGM.com and choose what currency to use. Brokers usually require an e-mail and password to complete this initial step. Traders are also able to select their account currency from USD, EUR, GBP, JPY, CHF, AUD, NZD.

An account verification process is usually mandatory as stipulated by regulatory requirements. A copy of a trader’s ID and one proof of residency document usually is enough for this last step. The ‘Know Your Client (KYC) process is necessary to become a trader and work with real money.

 

Follow these steps for account opening:

 

  • Get ready with your email address
  • Select the country of residence and your currency
  • Provide basic information about yourself
  • Go through the KYC process if requested and get approved.

 

A demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money with which to practice trading.

Beginner traders can normally use demo accounts to familiarize themselves with a live trading environment, where they can build up their trading skills by actively participating in trades and develop their own trading strategies.

Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what FXGM.com has to offer.

 

Overall Rating

4.5/5

Rated #409 of 
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXGM.com Account Features

FXGM.com does advertise a ‘live demo environment’ for traders with which they can use the First Protected Positions tool for thirty days. This tool is available to all new clients and will return any losses for the first five trades (the ZA branch) or ten trades (global) and users can keep any profits.

 

Pros and Cons

✔️ PROS ❌ CONS
Many account options to choose from No Islamic account available
No traditional demo account offered Traders can practice but need to deposit money

 

You might also like: FXGM.com Minimum Deposit

You might also like: FXGM.com Sign up Bonus

You might also like: FXGM.com Fees and Spreads

You might also like: FXGM.com Account types

 

FAQ’s

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does FXGM.com offer a demo account?

No.

 

For how long is the demo account valid?

Traders can use the First Protected Positions tool for thirty days.

 

Which live trading accounts does FXGM.com offer?

  • Basic Account
  • Discovery Account
  • Silver Account
  • Gold Account
  • Diamond Account
  • VIP Account

 

Does FXGM.com offer an Islamic Account

No.

 

What are the available deposit currencies for a live trading account?

  • USD
  • EUR
  • GBP
  • JPY
  • CHF
  • AUD
  • NZD

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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